Advance Fee Loan Scam- In this scam
a bogus company guarantees that an individual will be
approved for a personal loan. However, before the funds
are released the customer is required to send in a fee.
Once the fee has been sent the customer never receives
the loan. Be aware that it is illegal for a lender to
ask for money before the funds are dispersed, if a loan
has been guaranteed. Never do business with a company
who presents such an offer.
It is important that individuals
use caution when attempting to obtain a persona loan. It
can be very tempting to jump at a juicy offer,
especially if you’ve had credit problems in the past.
However, this often leads to very bad results. It is in
every individual’s best interest to investigate a lender
to determine if they are legitimate before beginning a
transaction. Also, it pays to be familiar with scams
that are taking place around the country so you will not
become the next victim of personal loan
fraud.
Disclaimer: The information
provided in this site is not legal advice, but general
information on financial issues commonly encountered. We
shall not be liable for any errors in the content or for
any actions taken in reliance thereon. Please consult
your financial
advisor.
